First Republic Bank seized, sold to JPMorgan Chase

First Republic Bank seized, sold to JPMorgan Chase

5 Things to Know Before Markets Open JPMorgan Chase will buy First Republic Bank assets after an FDIC takeover. U.S.

stock futures were flat heading into a week highlighted by the April jobs report and a Federal Reserve decision on interest rate hikes.

First Republic Is Sold: What to Know First Republic is the second-largest bank by assets to fail in U.S. history

Is my money safe? What you need to know about bank failures

Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S.

San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan.

Can depositors access their money? The Federal Deposit Insurance Corporation said early Monday that First Republic Bank’s 84 branches in eight states will reopen as branches of JPMorgan Chase Bank and depositors will have full access to all of their deposits.

How big is First Republic Bank? As of April 13, First Republic had approximately $229 billion in total assets and $104 billion in total deposits, the FDIC said.